✅ Step 1: Define Your Savings Goals

Decide what you're saving for, how much you’ll need, and your timeline.

• 🎯 Examples:

  • Emergency Fund (3–6 months of expenses)

  • Holiday or Wedding

  • House Deposit

  • Retirement

✅Step 2: Know Your Budget

Track income and expenses. Consider apps like YNAB, Mint, or a simple spreadsheet.

• Look for areas to cut back and reallocate to savings.

✅Step 3: Decide How Much to Save

Use the 50/30/20 Rule as a starting point:

• 50% Needs

• 30% Wants

• 20% Savings/Extra Debt Repayment

Or start smaller with 10% of your income if you’re just beginning.

✅Step 4: Choose the Right Savings Account

Pick an account based on:

• How soon you’ll need the money

• Interest rates

• Access restrictions

✅Step 5: Automate Your Savings

Set up an automatic transfer the day after payday.

• This makes saving effortless and consistent.

✅Step 6: Track & Review Monthly

Check your progress monthly and adjust if needed.

• Celebrate small wins!
  

💡 TOP TIPS FOR SUCCESSFUL SAVING

• Name your savings goals in your banking app (e.g., “Paris Trip”).

• Open multiple accounts for different goals if helpful.

• Out of sight = out of mind – keep savings in a different bank.

• Use round-up features (e.g., bank apps that round purchases and save the change).

• Review interest rates yearly and move your money if a better rate appears.
  

SUMMARY

1. Define Goals - Short-, mid-, and long-term goals

2. Budget - Know your spending/saving potential

3. Choose Amount - Use % of income or fixed targets

4. Pick Account - Based on your goal, timeline, potential need to access and also consider interest rates options

5. Automate - Set and forget transfers

6. Monitor - Monthly review and adjust

TYPES OF SAVINGS ACCOUNTS & INTEREST OPTIONS

*ISA’s can either be cash that generate interest or invested that can generate growth but capital (money) is at risk.

*Information is for educational purposes only and not to be taken as advice